Cash sales
Daily cash-up, float control, deposit tracking and documented shortage approval.
Retail financial control starts with the daily sales cycle
A retail business may process hundreds of small transactions through cash, cards, EFTs, gift vouchers, delivery platforms and online stores. If the point-of-sale system, bank deposits, merchant settlements and stock movements are not reconciled, the monthly accounts can show turnover without explaining shortages, fees, refunds or missing stock.
Orion Moon helps independent shops, franchises, online stores and multi-branch retailers connect daily trading information to bookkeeping, VAT, payroll and management reporting.
Daily POS and sales reconciliation
Compare POS sales by payment method with cash, card, EFT, voucher and account transactions.
Reconcile card-machine batches to merchant settlement reports and bank receipts.
Record merchant fees and timing differences separately from sales.
Match cash-up sheets to till readings, floats, deposits and approved petty-cash use.
Review refunds, voids, discounts, cancellations and manual price overrides.
Investigate overages, shortages and transactions posted to suspense accounts.
Cash, cards and payment platforms
Card sales
Batch-to-bank reconciliation after merchant fees, chargebacks and settlement delays.
Online payments
Reconcile gateway and marketplace statements to orders, refunds, fees and bank receipts.
Gift vouchers
Record vouchers as liabilities until redeemed and monitor expired or outstanding balances.
Customer accounts
Maintain debtor balances, receipts, credit limits and overdue follow-up.
Lay-bys and deposits
Track advance receipts separately from completed sales and maintain customer schedules.
Stock and cost-of-sales control
Retail profit depends on accurate stock quantities, purchase costs and selling prices. A bank balance cannot show whether gross margin is falling because of supplier increases, discounts, wastage or theft.
Reconcile stock purchases to supplier invoices and goods-received records.
Maintain product cost, selling price and margin information.
Record transfers between branches or warehouses.
Separate damaged, expired, returned and promotional stock.
Compare physical counts with system quantities and approve adjustments.
Review slow-moving and obsolete products before cash remains trapped in stock.
Calculate cost of sales consistently and investigate negative stock or unusual margins.
Stock counts and shrinkage reporting
Regular cycle counts are often more useful than waiting for one annual stocktake. The count process should identify the product, system quantity, physical quantity, variance, value and reason.
Define count areas and freeze or control stock movement during counting.
Use independent recounts for material differences.
Separate receiving errors, scanning errors, damage, theft and unrecorded transfers.
Approve stock adjustments before posting them.
Report shrinkage as a percentage of sales and stock value by store or category.
Supplier accounts and purchase controls
Approved supplier master data and controlled banking-detail changes.
Purchase orders matched to goods received and supplier invoices.
Supplier statements reconciled to the accounting records.
Credit notes followed up for returns, shortages and pricing differences.
Payment runs reviewed for duplicates, old balances and early-settlement opportunities.
Import, freight and landed costs allocated consistently where applicable.
VAT for retail transactions
Retail VAT must reconcile to actual sales categories and valid supplier invoices. Different products or transactions may be standard-rated, zero-rated, exempt or outside the normal sales cycle.
Map POS tax codes to the correct VAT treatment.
Reconcile taxable sales, zero-rated sales, refunds and credit notes to the VAT201 return.
Claim input VAT only where the business holds valid documentary support.
Review gift vouchers, deposits, discounts and loyalty transactions for correct timing.
Separate private or non-deductible expenses from business purchases.
Prepare transaction reports and invoices where SARS requests verification.
Retail payroll and workforce scheduling
Retail payroll frequently includes shifts, hourly employees, overtime, Sunday work, public holidays, commissions and temporary staff. Approved scheduling and attendance information should reach payroll before cut-off.
Employee contracts, job details, store allocation and pay rates.
Approved hours, overtime, Sunday and public-holiday work.
Commission, incentives, allowances and authorised deductions.
Leave, absenteeism, late-coming and unpaid-time adjustments.
PAYE, UIF and SDL calculations and EMP201 declarations.
EMP501 reconciliations and IRP5/IT3(a) certificates.
Retail employers should also assess the National Minimum Wage, BCEA, applicable sector or bargaining-council requirements and the employee’s earnings level when setting hours and pay rules.
Branch and store performance
For multi-store operations, the chart of accounts and tracking structure should separate revenue and controllable costs by branch while keeping shared head-office costs visible.
Sales, gross margin and average transaction value by store.
Stockholding, stock turn and shrinkage by branch.
Payroll and occupancy cost as a percentage of sales.
Merchant fees, delivery commissions and promotional discounts.
Store contribution before shared head-office expenses.
Cash-up exceptions, overdue deposits and unresolved suspense balances.
Online and omnichannel retail
Online sales often settle net of marketplace fees, advertising, delivery charges, refunds and chargebacks. We reconcile the platform statement to orders, accounting and bank deposits rather than recording the net bank receipt as turnover.
Gross sales, discounts, refunds and cancellations.
Marketplace, gateway and fulfilment fees.
Delivery income and courier costs.
Inventory movements between online and physical channels.
Settlement receivables and delayed payouts.
Cash-flow and purchasing decisions
Retailers must pay suppliers, wages, rent and tax while cash is tied up in stock. A rolling cash-flow forecast helps the owner plan purchases using expected sales, stock cover, supplier terms and seasonal demand.
Expected customer and platform receipts.
Supplier orders, payment dates and import commitments.
Payroll, rent, merchant fees and operating costs.
VAT, PAYE and provisional-tax payments.
Slow stock, markdown plans and seasonal purchasing.
Monthly retail management report
Sales by store, channel, category and payment method where data is available.
Gross profit and margin movement.
Stock value, stock turn, ageing and shrinkage.
Debtors, suppliers and cash-flow forecast.
Payroll, rent and merchant fees as percentages of sales.
VAT, PAYE and tax liabilities and deadlines.
Exceptions requiring action: shortages, negative stock, falling margins or overdue deposits.
How Orion Moon supports retail businesses
We can review the POS-to-bank process, stock records, supplier accounts, payroll and tax registrations and then establish a monthly control cycle. The service may include bookkeeping, daily or summary sales reconciliation, bank and merchant reconciliations, stock reporting, payroll, VAT, tax and management accounts.
Frequently asked questions
Why does the bank receipt not equal card sales?
Merchant fees, settlement timing, chargebacks, refunds and withheld amounts can cause differences. Reconcile the merchant batch and settlement statement to the bank.
Should gift-voucher sales be recognised as revenue immediately?
A voucher normally creates an obligation until it is redeemed or otherwise treated under the applicable terms and accounting policy. Maintain an outstanding voucher schedule.
How often should a retailer count stock?
High-risk and fast-moving items should be cycle-counted regularly, with a full count at suitable intervals. Frequency depends on volume, systems and shrinkage risk.
Can Orion Moon manage my POS system?
We can use POS reports for reconciliation and management reporting. Product setup, till operations and system support remain with the retailer and software provider unless separately agreed.
Retail tax, labour and accounting requirements depend on products, channels, contracts and workforce arrangements. This page provides general financial guidance.